Ventia Services Group Limited’s A$438 Million Initial Public Offering

Herbert Smith Freewheels advised Ventia Services Group Limited (ASX: VNT) on the matter.

Ventia Services Group Limited (ASX: VNT) (Ventia)’s initial public offering (IPO), priced at $1.70 a share, raised A$438 million for a A$1,454 million market capitalisation (at the offer price). 

The listing, which involved a primary capital raising by Ventia and a partial sell down by CIMIC and Apollo, was well received by the market and VNT shares closed around 23% higher than the offer price on the listing date.

Ventia is a leading essential infrastructure services provider in Australia and New Zealand, operating across four sectors: defence and social infrastructure, infrastructure services, telecommunications and transport. It has extensive capabilities across the full asset lifecycle including Operations and Maintenance, Facilities Management, Minor Capital Works, Environmental Services and other solutions. Ventia provides these services across a diverse range of industry segments through long-term contracts with a range of government agencies and blue-chip organisations.

The deal team was led by partners Philippa Stone (Picture) and Philip Hart and supported by senior associates Ken Ooi and Michael Burrell, and solicitors Denitsa Vasileva and Jennie Bian. The deal team also included US securities partner Tom O’Neill and consultant Elizabeth Bramon, who advised on US securities law aspects of the deal. 

Involved fees earner: Philip Hart – Herbert Smith Freehills; Ken Ooi – Herbert Smith Freehills; Tom O’Neill – Herbert Smith Freehills; Philippa Stone – Herbert Smith Freehills;

Law Firms: Herbert Smith Freehills;

Clients: Ventia Services Group Limited;

Giulia Di Palma

Author: Giulia Di Palma